Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Empire Company Limited (T:EMP.A)

Business Focus: Food Retail & Distribution

Sector:  Consumer Non-Cyclicals Industry:  Food Retail & Distribution
See Regulatory Filings on SEDAR
Company Contact
Address: 115 King Street
Tel: N/A
IR: See website
Key People
James M. Dickson
Independent Chairman of the Board
Michael B. Medline
President, Chief Executive Officer, Director
Michael H. Vels
Chief Financial Officer, Executive Vice President
Pierre St-Laurent
Chief Operating Officer
Simon Gagne
Executive Vice President - Human Resources
Vivek Sood
Executive Vice President - Related Businesses
Douglas B. Nathanson
Senior Vice President, General Counsel, Secretary
Business Overview
Empire Company Limited is engaged in the business of food retailing and related real estate. The Company's segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc., which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton's Drug Stores, as well as more than 350 retail fuel locations. The Company's Investments and Other Operations segment includes equity accounted interest in Crombie REIT, which is an open-ended real estate investment trust owning a portfolio of over 260 retail and office properties across Canada, and equity accounted interests in Genstar Development Partnership, Genstar Development Partnership II, GDC Investments 4, L.P., GDC Investments 6, L.P., GDC Investments 7, L.P., GDC Investments 8, L.P. and The Fraipont Partnership (collectively, Genstar).
Financial Overview
For the 39 weeks ended 01 February 2020, Empire Company Limited revenues increased 3% to C$19.65B. Net income increased 53% to C$405.7M. Revenues reflect Retail Sales, Total increase of 3% to C$19.58B. Net income benefited from Food Distribution segment income increase of 82% to C$723.5M, Merchandise Margins, Total - % increase of 3% to 24.6%. Dividend per share increased from C$0.33 to C$0.36.
Employees: 123,000 as of Feb 1, 2020
Reporting Currency: Canadian Dollars
Enterprise value: $9,716M as of Feb 1, 2020
Annual revenue (TTM): $25,902M as of Feb 1, 2020
EBITDA (TTM): $1,650M as of Feb 1, 2020
Net annual income (TTM): $527.80M as of Feb 1, 2020
Free cash flow (TTM): $784.60M as of Feb 1, 2020
Net Debt Last Fiscal Year: $6,332M as of Feb 1, 2020
Shares outstanding: 270,597,737 as of Feb 1, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization